Factors Affecting the Value of Your Home

The value of your home will ultimately be determined by the real estate market. As prospective buyers research properties, they will quickly gain a perspective of the relative value of different properties. When they are ready to make an offer on a property, they consider the following key factors that affect the selling price of your home…

Location

Location is the single most important factor in determining the value of your home.

Competition

Prospective buyers compare your property against competing properties that have similar features. Buyers will perceive value based upon properties that have sold or are available in the local area.

Timing

Property values are affected by the current real estate market. As the real estate market cannot be manipulated, a flexible marketing plan should be developed that analyzes the current marketing conditions and individual features of the property.

Condition

The condition of the property affects the price and speed of the sale. Since prospective buyers often make purchases based on emotion, first impressions are important. Optimizing the physical appearance of your home will maximize the buyer’s perception of value.

Price

Pricing your home properly from the beginning is an important factor in determining the length of time it will take to sell your home. Reviewing this home marketing plan will assist you in determining the best possible asking price.

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